Intercontinental Exchange (NYSE:ICE) SVP Sells $280,992.00 in Stock

Key Points

• SVP Douglas Foley of Intercontinental Exchange sold 1,600 shares at an average price of $175.62, realizing a total of $280,992, which decreased his ownership by 5.84%.
• The company's stock traded down 1.2% to $174.02, with a 52-week range between $142.29 and $189.35.
• Analysts have set a consensus target price of $194.92 for Intercontinental Exchange, with many rating the stock as a "Moderate Buy".

Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) SVP Douglas Foley sold 1,600 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $175.62, for a total transaction of $280,992.00. Following the transaction, the senior vice president directly owned 25,796 shares in the company, valued at approximately $4,530,293.52. This represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Intercontinental Exchange Price Performance

Shares of ICE stock traded up $0.58 on Wednesday, reaching $171.98. The company had a trading volume of 2,443,015 shares, compared to its average volume of 2,445,273. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35. The stock has a market capitalization of $98.44 billion, a PE ratio of 33.01, a price-to-earnings-growth ratio of 2.04 and a beta of 1.10. The business's 50-day moving average is $180.01 and its 200 day moving average is $174.97.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company's quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.52 EPS. Equities research analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Intercontinental Exchange

A number of large investors have recently added to or reduced their stakes in the stock. REAP Financial Group LLC grew its stake in shares of Intercontinental Exchange by 116.7% during the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 91 shares during the period. Tsfg LLC grew its position in Intercontinental Exchange by 187.3% during the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after buying an additional 103 shares during the period. Princeton Global Asset Management LLC bought a new stake in Intercontinental Exchange during the second quarter valued at approximately $28,000. Menard Financial Group LLC purchased a new stake in Intercontinental Exchange during the fourth quarter valued at approximately $29,000. Finally, Rakuten Securities Inc. lifted its position in Intercontinental Exchange by 595.8% during the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 143 shares in the last quarter. Institutional investors own 89.30% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on ICE shares. Barclays boosted their price objective on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. UBS Group raised their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Finally, Piper Sandler upped their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Intercontinental Exchange presently has a consensus rating of "Moderate Buy" and an average target price of $194.92.

About Intercontinental Exchange

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.